Skechers U.S.A., Inc. (NYSE:SKX) Shares Sold by Alliancebernstein L.P.

Alliancebernstein L.P. reduced its position in shares of Skechers U.S.A., Inc. (NYSE:SKX) by 3.0% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 170,687 shares of the textile maker’s stock after selling 5,250 shares during the period. Alliancebernstein L.P.’s holdings in Skechers U.S.A. were worth $11,477,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the company. Wellington Management Group LLP grew its position in Skechers U.S.A. by 6.3% in the fourth quarter. Wellington Management Group LLP now owns 1,090,413 shares of the textile maker’s stock worth $73,319,000 after acquiring an additional 64,857 shares during the period. Schroder Investment Management Group raised its stake in Skechers U.S.A. by 11.3% in the fourth quarter. Schroder Investment Management Group now owns 177,343 shares of the textile maker’s stock valued at $12,010,000 after buying an additional 18,024 shares in the last quarter. Heartland Advisors Inc. grew its holdings in shares of Skechers U.S.A. by 31.2% during the fourth quarter. Heartland Advisors Inc. now owns 180,652 shares of the textile maker’s stock worth $12,147,000 after purchasing an additional 43,000 shares during the last quarter. Pictet Asset Management Holding SA grew its holdings in shares of Skechers U.S.A. by 11.2% during the fourth quarter. Pictet Asset Management Holding SA now owns 105,929 shares of the textile maker’s stock worth $7,123,000 after purchasing an additional 10,668 shares during the last quarter. Finally, X Square Capital LLC grew its holdings in shares of Skechers U.S.A. by 0.5% during the fourth quarter. X Square Capital LLC now owns 42,835 shares of the textile maker’s stock worth $2,880,000 after buying an additional 210 shares during the last quarter. 79.96% of the stock is currently owned by hedge funds and other institutional investors.

Skechers U.S.A. Trading Up 11.2 %

SKX stock opened at $50.59 on Thursday. The company has a market cap of $7.56 billion, a price-to-earnings ratio of 12.19, a PEG ratio of 1.11 and a beta of 1.08. The company has a quick ratio of 1.12, a current ratio of 1.97 and a debt-to-equity ratio of 0.01. The business has a fifty day simple moving average of $59.51 and a 200-day simple moving average of $64.21. Skechers U.S.A., Inc. has a 52 week low of $44.50 and a 52 week high of $78.85.

Skechers U.S.A. (NYSE:SKX) last released its quarterly earnings data on Thursday, February 6th. The textile maker reported $0.65 EPS for the quarter, missing analysts’ consensus estimates of $0.73 by ($0.08). Skechers U.S.A. had a return on equity of 13.73% and a net margin of 7.13%. On average, equities research analysts expect that Skechers U.S.A., Inc. will post 4.47 EPS for the current year.

Analyst Ratings Changes

A number of brokerages recently commented on SKX. Bank of America reduced their price objective on shares of Skechers U.S.A. from $76.00 to $70.00 and set a “buy” rating for the company in a research report on Monday, March 24th. UBS Group decreased their price target on Skechers U.S.A. from $92.00 to $90.00 and set a “buy” rating on the stock in a research note on Friday, February 7th. Evercore ISI boosted their price target on Skechers U.S.A. from $72.00 to $85.00 and gave the stock an “outperform” rating in a research note on Tuesday, January 28th. StockNews.com lowered Skechers U.S.A. from a “buy” rating to a “hold” rating in a research note on Monday, February 10th. Finally, TD Cowen boosted their price target on Skechers U.S.A. from $88.00 to $93.00 and gave the stock a “buy” rating in a research note on Wednesday, January 8th. Three equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $80.42.

Insider Activity at Skechers U.S.A.

In other Skechers U.S.A. news, CEO Robert Greenberg sold 52,600 shares of the company’s stock in a transaction dated Wednesday, February 12th. The shares were sold at an average price of $62.72, for a total value of $3,299,072.00. Following the completion of the transaction, the chief executive officer now directly owns 61,367 shares of the company’s stock, valued at $3,848,938.24. This represents a 46.15 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, COO David Weinberg sold 36,000 shares of the company’s stock in a transaction dated Wednesday, February 12th. The shares were sold at an average price of $62.72, for a total transaction of $2,257,920.00. Following the completion of the transaction, the chief operating officer now directly owns 54,499 shares of the company’s stock, valued at approximately $3,418,177.28. The trade was a 39.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 218,245 shares of company stock worth $13,452,902. Corporate insiders own 24.75% of the company’s stock.

Skechers U.S.A. Company Profile

Skechers U.SA, Inc designs, develops, markets, and distributes footwear for men, women, and children worldwide. The company operates through Wholesale and Direct-to-Consumer segments. It offers footwear under Skechers Hands Free Slip-ins, Skechers Arch Fit, and Skechers Air-Cooled Memory Foam brands.